Why DoorDash Stock Just Crashed 10%
DoorDash (NASDAQ: DASH) shares tumbled 10.5% through 11 a.m. ET on Friday morning after reporting a huge earnings miss last night.
The food delivery company was supposed to lose only $0.16 per share in Q4 on sales of $2.24 billion, according to a consensus of analysts who follow the stock. DoorDash managed to report better-than-expected sales of $2.3 billion. However, the company's quarterly loss was more than twice as big as expected -- $0.39 per share.
Digging into the numbers, it seems DoorDash grew its total number of orders serviced by 23% in Q4 2023 compared to Q4 2022. Order size didn't grow quite as fast, up 22%. But revenue flowing to DoorDash itself (as opposed to its restaurant partners) grew significantly faster, up 27% year over year.
Source Fool.com
